Prepaid insurance is an asset account, and hence it appears on the balance sheet.
Correct Answer:
Verified
Q33: The matching principle is also called:
A)adjusting entry
Q34: The accounting principle that ensures that all
Q35: Accrued revenues are the income that has
Q36: The assumption that the financial statements of
Q40: Which of the following entries would be
Q41: Robert Rogers, CPA, performed accounting services for
Q42: Robert Rogers, CPA, performed accounting services for
Q43: Robert Rogers, CPA, owns a computer that
Q54: Which of the following accounting elements does
Q98: The depreciation method that allocates an equal
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents